Under pressure from regulators and shareholders, banks are forced to commit huge amounts of money and resources into streamlining KYC and AML procedures - and yet the fines just keep on coming. SPARKL Clear Box® lets you turn your compliance regulations into simple configuration.
Challenges for Bankers
Black box swamp increases operational risks
Tougher regulation increases complexity and cost
Legacy and distributed systems eat time and resources
Improve structural pain points within your infrastructure
Using reasoned provisioning and distributed intelligence, SPARKL reduces inefficiency and latency in the black box swamp, improving executive understanding around IT systems at a high level. SPARKL makes the right things happen at the right time with a high level of granularity, mitigating demand for redundant infrastructure only used during high activity peaks.
Respond rapidly to demands from auditors and regulators
Banks need to make sure their systems are secure, auditable and flexible enough to quickly adapt to any new regulations and requirements. Every event generated by a transaction is pushed through SPARKL to a blockchain-secured audit trail, helping you to meet KYC and AML checks - if an anomaly occurs, there is tamper-proof evidence of the fact. Transactions can be efficiently settled without depending on centralised control, offering immutability and information redundancy.
Work with your legacy and external systems
SPARKL is not a replacement for your current programs. Clear Box configuration and the SPARKL Sequencing Engine are technology-agnostic and can integrate with your preferred analytical stacks and third-party applications to mitigate corporate risk and investment.